This article is from the Australian Property Journal archive
A PRIVATE developer has paid $1.13 million for a residential site at High St Preston in Melbourne's north.
CBRE selling agent Paul Tzamalis said the 204 High St site has a permit for a six-storey development consisting of 81 student apartments with ground floor retail and basement car parks.
“The high number of buyer enquiries illustrated the market’s hunger for boutique development sites.
“The property was sold to an established local developer after generating interest from a wide range of buyers, including developers and land bankers,” he added.
The site has a land area of 711 sqm, which translates to a sale price of $1,589 per sqm. It is zoned Priority Development.
Property Review
